Financial Crunch Hits UBL as its UBL Tower is Still on ground

Financial crunch seems to have hit one of Pakistan's largest bank, the United Bank Limited whose UBL tower is Still on ground after it reached ground level.

 In March 2008 UBL has announced its plan to build a state-of-the-art, customised, high-rise head office building in Karachi's II Chundrigar Road at a ceremony held in a local hotel but still the tower is on the ground level.

The tower was inaugurated by the leading member of UAE royal family Shaikh Nahayan Mabarak Al Nahayan who was the chief guest at the ceremony.

Sheikh Nahayan Mabarak Al Nahayan cut the ribbon to unveil a large model of the new Corporate Head Office building designed by world renowned and international acclaimed architect Shankland Cox Ltd.

In June 2009, UBL has re invited tenders for this project but its now April 2012 and this project seems to be the victim of UBL's financial crunch.